Professional Documents
Culture Documents
The United Kingdoms historic vote to leave the European Union surprised millions
around the world. The subsequent explosion in media commentary and market turmoil
has done little to guide, reassure or unite people around a path forward.
CNC has listed the six things you need to know.
Our aim is to help you understand the impact of Brexit.
FACT : 52% of voters chose Leave. But there was a huge generational divide:
75% of people aged 18-24 voted Remain. Among those aged 65 and older,
only 39% did.
The result surprised nancial markets, politicians, commentators and businesses.
Most expected a Remain victory.
FACT: A vote of no-condence in the opposition leader, Jeremy Corbyn, has been
tabled. Two-thirds of his shadow cabinet have resigned in the wake of the vote.
FACT : The referendum was in fact only advisory. The implications of this are still
unclear. Furthermore, in 2014 Scotland voted narrowly to remain part of the UK
- on the premise of continued EU membership. The Brexit vote is now prompting
Scottish politicians to call for a second independence referendum.
Global impact.
The reverberations of Brexit are being felt beyond Europe. Some fear Brexit could
cause the next global recession, while others cite poor economic data and stock
market performance pointing in the same direction. EU leaders are concerned about
contagion. Some EU politicians from fringe parties are already calling for referenda
in their countries. Many also worry about the impact of this result on the upcoming
US elections.
FACT : Despite much speculation, the extent of the impact of Brexit remains to
be seen. The fundamentals of the UK economy have not changed (yet) this is
still one of the strongest economies in Europe.
Chinas Reaction.
Chinese Prime Minister
Li Keqiang
The President of Asia Infrastructure Investment Bank (AIIB) Jin Liqun said at its rst
annual meeting in Beijing that the decision will not affect the UK's position as a major
shareholder in the AIIB, and that We certainly believe that whatever happens in the
follow-up of Brexit, the United Kingdom [] will continue to play an important role in the
development of this bank. UK was among the 57 founding members of AIIB that launched
ofcially in January with USD 100 billion in capital. Former British Treasury Minister
Danny Alexander is one of the vice-presidents in the bank, which has China, India and
Russia as the biggest shareholders.
The Founder of China Wanda Group
Wang Jianlin
The founder of China Wanda Group, and richest man in the country Wang Jianlin said
Brexit would not be a smart choice for the UK, and a bunch of Chinese companies
would move elsewhere in the event of Brexit in February this year.
EU is the second-largest trading partner for China. In 2015, Chinese companies invested
Euro 23 billion in the EU, increased 44% from the previous year.
Among which, Germany, UK and France are the big three investment destinations for
Chinese companies so far.